This could very well be one of the biggest developments for the Indian automobile market. Two automobile giants – Hyundai Motors and Kia Motors – have announced that they will jointly invest USD 300 million (Rs 2,055 crore at current exchange rates) in Indian cab aggregator Ola. That amount is the biggest investment that the South Korean duo have lined-up to date. The common goal between Ola and the carmakers is to help transform the mobility scene on the Indian soil.

More specifically, the three companies will collaborate on developing next-gen fleet and mobility solutions. Additionally, and more importantly, they will join forces in building India-specific electric vehicles (EVs) and infrastructure. Hyundai, Kia and Ola have also agreed on developing cars and specifications which cater directly to the ride-hailing drivers and riders in India. This will help Hyundai Motor Group to expand its wings over the promising fleet operations sector.

The collaboration will also see the companies devise better offerings for aspiring driver-partners with customised vehicles. Apart from that, the driver-partners will be able to take advantage of several financial services such as leasing and EMIs. To make matters more fruitful for them, the companies will also extend services like vehicle maintenance and repairs.

Why did we start this article the way we did? It’s simple to deduce. Hyundai is a renowned name in India. Soon, Kia Motors will also start its Indian innings. On the other hand, Ola is a pioneer in the ride-hailing sector wherein it already hosts over 13 lakh partners on its platform. The partnership amongst them will not only pave way for more employment opportunities at the wheel as drivers or behind closed doors as developers but also help boost India’s push towards zero-emission mobility solutions.